20 Inexpensive Holiday Spots Thanks to the Low Loonie

Posted by Doug Murray on September 2, 2015, Updated on August 22, 2018

With the loonie losing value against the US dollar, Canada's nearest holiday spot is getting expensive. Really expensive. And it's not just the US that's no longer the bargain it once was. The dollar has also lost value against both the euro and the pound. But there are still plenty of places that remain bargains for Canadian travellers. We've picked 20 that will give you good value. Some of them are expensive to get to, but what you pay in airfare you'll more than make up in savings on the ground. As with any holiday destination, the more research you do in advance, the more you'll save.

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1. Mexico

Mexico remains a great deal for Canadians. The exchange rate is very favourable and with a little effort you can find good deals in resort areas. However, the real deals are away from the typical tourist zones. Try places like Oaxaca and San Cristobal de las Casas.

2. Cuba

Things are quickly changing in Cuba with the normalization of relations with the US. For Canadians, Cuba has always offered good value and continues to do so. You can often find sell-off packages for cheap.

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3. Indonesia

Asia is one of the best bets for Canadian travellers, and you can really stretch your travel dollar in Indonesia. Price of Travel recommends Kuta on Bali. It's more of a backpacker destination, but there are affordable mid-range offerings too. You can grab a quick meal for less than $2 and drinks are equally as cheap.

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4. Spain

Southern Spain can be a bargain if you know where to look. The dollar has slid against the Euro, but if you can find a cheap fare to a destination like Malaga, you'll find low accommodation costs. Spain is a good long-term holiday choice, as well.

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5. Cambodia

The most expensive part of travelling to Cambodia will be the flight, but once you arrive, your money will go quite far. According to Lonely Planet, mid-range accommodation (with air conditioning) is about $20 a night. Good meals in a restaurant are $10-15, but street food is only a few bucks.

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6. The Philippines

The Philippines is an affordable destination, especially from Canada's West Coast. Prices tend to be higher in metropolitan areas but drop in rural areas. You can stay in a hostel for around $10 and a guesthouse for $25. There are good package deals to be found on the tropical islands of Palawan.

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7. Thailand

It's no surprise that Thailand is an affordable destination for Canadians. The Thai baht has dropped against the Canadian dollar since the beginning of the year. While there have been security issues in Bangkok, places like Phuket and in Surat Thani are stable and affordable. However, before booking a trip to Thailand, check the Government of Canada's travel advisory website for the very latest.

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8. Greece

Speaking to the Globe and Mail, travel blogger Nomadic Matt says Greece is a great deal, but you should stay in places like Crete instead of Santorini if you want to save money. Remember to pack a bunch of cash, in case ATM withdrawal restrictions are in place.

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9. South Korea

Nomadic Matt also recommends South Korea. He told the Globe that a daily budget of $20 to $30 is doable. Street food is the best way to keep costs down, but restaurant prices are surprisingly affordable.

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10. Bulgaria

Bulgaria is another underrated and affordable European destination. The resort town of Varna on the Black Sea coast is definitely worth a visit. You can find package deals to save even more of your hard earned loonies.

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11. Croatia

The Balkan region is a bargain compared to the rest of Europe, but Croatia stands out thanks to the enchanting Dalmatian Coast and the old world splendour of Dubrovnik. Croatia makes a great base to explore neighbouring (cheap) countries like Bosnia and Herzegovina and Montenegro.

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12. Czech Republic

Prague is a popular bucket list destination, and the Czech Republic is an affordable spot for Canadians year-round. Even with the weak dollar you'll still find good deals throughout the country.

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13. The Baltic Countries

Latvia, Lithuania and Estonia make up the Baltic countries. Since joining the EU, they've become more expensive but are still a bargain compared to other parts of Europe. Cheap airfares from Western Europe make access easy, and the capitals Riga, Vilnius and Tallinn (pictured) are fun to explore.

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14. Vietnam

Vietnam has always been a cheap destination and it continues to offer amazing value for the traveller. From Ha Long Bay (pictured) to the Sa Pa Terraces — it's another must-see country that won't cost a bundle.

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15. Colombia

Colombia is still shaking off its reputation as a dangerous place, but it has come quite far from the bad old days. Today the country has a new, positive energy running through it. The dollar has strengthened against the Colombian Peso, and that means cities like Bogota (pictured), Medellin and Cali are even more affordable.

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16. Guatemala

Even though the dollar doesn't go as far as it used to in Guatemala, the Central American nation is still good value. Popular spots like the Mayan city of Tikal and the Spanish-colonial town of Antigua are still bargains, while the shores of beautiful Lake Atitlan will give you the biggest bang for your buck.

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17. Brazil

The Brazilian real has dropped against our dollar which makes the country all the more affordable. Like most destinations on our list, you'll find cheaper prices outside of the popular spots. But there are still deals to be found if you do your research.

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18. Turkey

Turkey is another country whose currency has dropped significantly against the Canadian dollar. Turkey offers the visitor a variety of options — from Istanbul's nightlife to the sun-drenched Mediterranean coast. There are lots of deals to be found at the big resorts, but some of the best values are found while exploring on your own.

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19. New Zealand

The Canadian dollar has risen significantly against the NZ dollar since spring. That's good news if you're looking for a warm destination this winter. Flights will be the most expensive part of your trip, but your dollar will retain its value.

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20. Canada

There is one place where your dollar is worth a dollar: right here in Canada. It's not super cheap, but Canada is incredibly diverse and with a little work you can find decent deals — especially off season. To save money on accommodation, look at options like Airbnb. If you want to save on flights, sign up for airline newsletters and check travel websites often. If you live near a US airport, you can often save a bundle by departing or arriving stateside.